Tuesday, April 28, 2020

Govt extends deadline to bid for Air India by 2 months till June 30

New Delhi: The government has extended the deadline to bid for Air India by two months till June 30, as the COVID-19 fallout has disrupted economic activity globally.

This is the second extension in the deadline to submit bids by investors for Air India since it initiated the process of stake sale in the debt-ridden national carrier on January 27.

Issuing a corrigendum to the Expression of Interest for sale of Air India, the Department of Investment and Public Asset Management said the deadline has been extended in view of the "request received from the IBs (interested bidders) in view of the prevailing situation arising out of COVID-19".

While issuing the EoI in January, the last date for bids was kept for March 17, which was later extended to April 30. This has now been further extended till June 30.

Also the date for intimation to qualified interested bidders (QIB) has been extended by 2 months till July 14, the DIPAM said in the corrigendum posted on its website.

"Further changes with respect to the Important Dates, if any, will be communicated to the Interested Bidders subsequently," it added.

COVID-19 pandemic has disrupted economic activity globally with many countries announcing lockdown to contain the virus spread.
28/04/20 PTI/Outlook

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